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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
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